Smartphone Makers Hit By Rising Competition

Samsung Electronics Co.'s weaker-than-expected earnings guidance for its second quarter and tepid results from HTC Corp. show that high-end smartphone makers are starting to see growth taper amid intense competition and cheaper devices flooding the market.

Samsung's market value fell an additional $6.5 billion on Friday after the world's biggest smartphone maker by shipments said it expects an operating profit of between 9.3 trillion won and 9.7 trillion won, or $8.2 billion and $8.5 billion, for the second quarter,...